Okay, I admit that I implied the PS3 is more powerful, and I may be wrong about that, but as I said, specs mean nothing to me.
What I should have said is that if the article is true, the difference isn't big enough to matter. From a purely visual standpoint, the PS3's game lineup looked better than the Xbox 360 lineup to me. Maybe that's due to better art direction, but if better art direction is enough to make the PS3 games look better, then the power difference doesn't matter.
Caveat: I'm assuming that the framerates are about equal, that's hard to judge from videos on the interweb.
Edit - Double caveat: I suppose this could also mean longer load times. If they exceed 10 seconds, then that's might be a problem, but it sure didn't hurt PSX vs. N64.